Rates

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Savings Rates

(Effective September 1, 2017)
Certificate of Deposit
Account Term Interest Rate Annual
Percentage
Yield
Minimum Deposit
to Open Account
Minimum Balance
to Obtain APY
1-5 Months .20% .20% $1,000.00 $1,000.00
6-11 Months .30% .30% $1,000.00 $1,000.00
12-17 Months .40% .40% $1,000.00 $1,000.00
18-23 Months .50% .50% $1,000.00 $1,000.00
24-25 Months .60% .60% $1,000.00 $1,000.00
30 Months .70% .70% $1,000.00 $1,000.00
36 Months 1.00% 1.00% $1,000.00 $1,000.00
48 Months 1.50% 1.51% $1,000.00 $1,000.00
60 Months 2.00% 2.02% $1,000.00 $1,000.00
Substantial penalty for deposits withdrawn before the maturity date. The Annual Percentage Yields listed above are calculated on certificates compounding quarterly.  However, in certain circumstances a certificate could possibly compound monthly, quarterly, semi-annually or annually.  Annual percentage yield assumes interest will remain on deposit until maturity.  A withdrawal will reduce earnings.  Contact any employee for further information.

 

Journey Ahead Certificate of Deposit
Account Term Interest Rate Annual
Percentage
Yield
Minimum Deposit
to Open Account
Minimum Balance
to Obtain APY
Journey Ahead CD - 1 Year 1.00% 1.00% $25.00 $25.00
Journey Ahead CD - 3 Year 1.50% 1.51% $25.00 $25.00
Journey Ahead CD - 5 Year 2.00% 2.02% $25.00 $25.00
Eligibility Requirements: Primary owner of the Journey Ahead CD must be under 18 years of age at account opening. Secondary owner must be 18 years of age or older at account opening. Contact any employee for further information.

 

Variable Rate Accounts
Account Type Interest Rate Annual
Percentage
Yield
Minimum Deposit
to Open Account
Minimum Balance
to Obtain APY
 
Demand Deposit        
NOW Accounts* (Compounds Monthly) .05% .05% $100.00 any amount
Money Market* (Compounds Monthly) .15% .15% $100.00 any amount
Savings Accounts        
Passbook Savings* (Compounds Quarterly) .15% .15% $50.00 any amount
Christmas Club* (Compounds Annually) .10% .10% $50.00 any amount
Monthly Variable Rate IRA        
Passbook IRA* (Compounds Daily - Paid Annually) .50% .50% $50.00 any amount
HSA Accounts        
HSA Accounts* (Compounds Monthly) .05% .05% $100 any amount
*The rate may change after the account is opened. *Fees could reduce the earnings on the account.
Member FDIC and Equal Housing Lender.

 

Loan Rates

(Effective September 1, 2017)  Please call the State Bank of Cherry to get exact rates.
Auto Loans
Year Term Annual Percentage Rate
New 36 months 3.50%
New 42 & 48 months 3.50%
New 60 months 3.75%
New 66 months 4.00%
1 Year Old 36 months 3.50%
1 Year Old 48 months 3.50%
1 Year Old 54 & 60 months 3.75%
2 Year Old 36 months 4.25%
2 Year Old 42 months 4.50%
2 Year Old 48 months 4.75%
3 Year Old 36 months 4.50%
3 Year Old 42 months 4.75%
3 Year Old 48 months 4.75%
4 Year Old 36 months 5.00%
4 Year Old 42 months 5.25%
5 Years old 36 months 6.00%
6 Years Old + 36 months 6.75%
Motorcycle Rates: +1% over auto rates

 

Mortgages (Owner Occupied)
Type   Annual Percentage Rate
1 Year Adjustable Rate 20% Down 3.25%**
3 Year Adjustable Rate 20% Down 3.50%**
5 Year Adjustable Rate 20% Down 3.75%**
15 Year Fixed Rate 20% Down 4.25%
Home Equity Line of Credit (RVC) 10 Year Adjustable Rate +.50% Above Wall Street
Journal Prime
Floor 5.00% / Ceiling 18.00%
Home Equity 10 Year Variable Rate +1.50% over Adjustable Rate
Home Equity 10 Year Fixed Rate 7.00%
**Minimum Rate is the initial rate. Maximum rate is 6% over initial rate.
Rate Changes are no more than 1% on 1 year and no more than 2% on 3 & 5 year.

 

Farm & Commercial / Rental Property / Lots
Type   Annual Percentage Rate
1 Year Adjustable Rate 30% Equity 4.50%*
3 Year Adjustable Rate 30% Equity 4.75%*
5 Year Adjustable Rate 30% Equity 5.00%*
*Floor is 4.50%. No ceiling or cap at rate change.
Desired amortization is 20 years or less.
Index is the Wall Street Journal Prime

 

Miscellaneous
State Bank of Cherry Corporate Base Rate 5.50%
Farm Production Loans 4.25%
Wall Street Journal Prime 4.00%
Unsecured Personal 11.50%

 

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